Total of 11 private Indian firms have made it to the list of 500 most valuable companies across the world, and the country is ranked 10th on the chart, as per a report. The total value of these 11 companies grew 14 per cent and has been pegged at $805 billion or nearly a third of the Indian GDP. All these companies in the list of non-state enterprises have gained in value during 2020, which was hit by the pandemic, barring tobacco major ITC and second largest private sector lender ICICI Bank, as per the 'Hurun Global 500' report.
Observers say more banks, especially public sector entities, which have a 70 per cent market share, will also join the battle to get more cheap deposits.
Panic gripped Kolkatans on the first day of the year after a fire broke out on the seventh floor of a multi-storied building in the posh Park Street area here but no one was injured.
ATMs are on their way to becoming a one-stop shop for most banking services. Here's what your ATM can do for you.
While lending rates have been jacked up on an average of 5-10 bps by private sector lenders like HDFC Bank, Axis Bank, Kotak Mahindra Bank and Yes Bank since January, almost all the PSBs have been increasing their bulk deposit rates in the range of 15 bps to 125 bps.
MMID is a seven-digit number issued by your bank for transactions through mobile banking.
These trusts are being registered under a new framework.
Domestic mutual funds (MFs) and foreign portfolio investors (FPIs) have been net buyers of stocks in August. Domestic fund houses have continued to invest in stocks, propelled by the success of various new fund offers (NFOs) and strong flows into equity funds. MFs had purchased stocks worth more than Rs 8,300 crore until August 23, according to the data provided on the Securities and Exchange Board of India (Sebi) website. Jimmy Patel, MD and CEO at Quantum AMC, says: "The surge in equity investments by MFs is because of two key reasons. One, equity NFOs are getting a strong response from investors, and fund houses need to deploy that money in the markets.
If you are a motorsport enthusiast, be sure to be there at the Somaiya grounds in Sion East, Mumbai, on Sunday, February 20. Some of the best two and four-wheeler drivers will be in action in an Autocross event, billed as RotoCross, organized by the Rotary Club of Deonar, Mumbai, along with Sportscraft, under the aegis of FMSCI.
The Mumbai-based Shah family of the diversified Anchor Group has decided to put its FMCG portfolio of oral care and personal care products on the block, according to two independent sources.
The revision will make corporate and consumer loans, including those for homes and auto, expensive for new borrowers.
The O P Jindal Group has emerged as a strong contender for Ispat Industries, the debt-laden company owned by Pramod and Vinod Mittal.
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
Anupriya Goenka's humble abode!
The Kotak group is set to launch the country's fifth national commodity exchange, in association with the Ahmedabad Commodity Exchange (ACE), in which it is picking up a majority equity stake as an anchor investor.
Real estate developer Oberoi Realty on Friday said it will hit the capital market with its initial public offer on October 6.
India Inc on Monday gave a thumbs down to the Interim Budget 2009-10, proposed by Finance Minister Pranab Mukherjee, saying it is a non-event and more of a political statement.
'They say our mothers lay the early foundation on which we build our dreams and lives. This holds true for me.' Kotak Mahindra Bank CEO Uday Kotak tells us about his mom's wonderful cooking.
Following the 30-day moratorium placed on Yes Bank, asset management companies have asked their clients, who have bank accounts with the troubled lender, to furnish details of alternate accounts for receiving redemption payouts. Redemption is the return of an investor's principal on a fixed income security such as a bond, mutual fund or preferred stock.
A balance transfer to another lender entails substantial cost and time.
Plastic money that lets you buy almost everything by just swiping the card can also turn out to be your worst nightmare.
Japan's Sumitomo Mitsui Banking Corporation on Wednesday announced that it would invest Rs 1,366 crore (Rs 13.66 billion) for a 4.5 per cent stake in private sector lender Kotak Mahindra Bank.
Kotak Mahindra Bank on Monday announced the launch of its mobile banking service that would enable customers to conduct banking operations through mobile phones.
More than 90 per cent stocks in the NSE 500 universe are currently trading above their 200-day moving average (DMA). Experts say this is a sign that the market has become overheated and can lead to a correction or sideways movement for a long period. The 200-DMA is a key technical indicator used by traders to get a sense of market direction. A level, which is roughly a 40-week average, often acts as key support or resistance.
Since its launch in April, helpline 155260 has been able to prevent more than Rs 18.5 million of defrauded money from reaching the hands of fraudsters.
Private sector lenders ICICI Bank and Kotak Mahindra on Tuesday announced low rates of 8.25 per cent and 8.49 per cent respectively for home loans, intensifying the cut-throat competition sparked by SBI and HDFC.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
After the initial euphoria, there is a growing concern as inflation goes down to less than a quarter from its 13-year high of 12.91 last August and seems headed towards zero and sub-zero levels beyond this month.
While noting few top persons have dared to question the ambitions of the country's MNCs, the daily quoted Kotak as saying that he was worried about corporate India's over-reach amid a period of global financial turmoil. Indian companies announced an estimated 240 outbound M&A deals in 2007 worth more than 32 billion dollars, up from less than 200 deals worth less than $10 billion in 2006 and not even $5 billion in 2005.
Kotak Mahindra Bank is raising a total of $300 million through three separate offshore funds - an infrastructure fund, a Shari'ah fund for Muslim investors and a multi-cap fund for European investors - to tap the growing appetite of global investors.
Some major private sector banks, such as Deutsche Bank, Yes Bank, Kotak Mahindra Bank, Standard Chartered Bank, and financial institution Industrial Finance Corporation of India (IFCI) are in the race to buy the Rs 500-crore standard loan assets and investments of the Industrial Investment Bank of India (IIBI).
Private sector lender Kotak Mahindra Bank on Wednesday said Anand Mahindra has ceased to be a promoter of the bank but will continue to be associated with the lender as a non-executive director.
'EV-charging is the next big opportunity after fuelling'
Rejects proposals by Bank of India, IndusInd, Kotak Mahindra and HDFC.
Leading banks lent 18 per cent more to car buyers in 2009-10 at Rs 33,000 crore, compared with Rs 28,000 crore in the previous year.
The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors.
The New-York based Goldman Sachs, one of the world's oldest and largest investment banking firms, plans to enter the buoyant mutual fund business in India.
Kotak Mahindra Group MD Uday Kotak on Friday said it will be tough for stock exchanges to decide whether to stop trading in the Satyam scrip, which has fallen by over 95 per cent in a matter of two days' trading on the NSE.
